Contracts in restraint of trade.

HB 38 voids most contractual clauses restricting competition (like non-compete agreements) for employees and business owners in Wyoming, effective July 1, 2022. It specifically allows exceptions for: selling a business (including subsidiaries or "substantially all" assets), protecting trade secrets, agreements with executives, and reimbursement for employer-paid specialized training or hiring bonuses under strict time limits. The law applies to all business entities (sole proprietorships, partnerships, LLCs, corporations) and their owners or employees. This change makes typical non-compete clauses unenforceable unless one of the specified exceptions applies.